Friday, October 25, 2013

Option Open Interest for 25-10-2013

Inference
Nifty opened weak and stayed weak for the most part of the day in a small range with all up-moves being sold off. The index ultimately closed near the lows of the day at 6144.90, a loss of 19.45 points. On a week-on week basis the index lost 44.45 points or approx 0.72%. The broader market was very weak, with 492 advances to 863 declines. As per OI table range till expiry comes around 6050-6250.
  • Call option 6100-6200 added 9.52 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6100-5900 added 7.65 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,61,21,000 down by 11,14,350, whereas Nov Series added 17.03 lacs OI, with small decrease in price, most probably 100% roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 18,36,125 up by 8,225, whereas Nov Series also added 11.7 thousand with small decrease in price, most probably short build-up.
  • FII’s sold 4.25 lacs Futures, mostly short build-up, as their net OI increased by 10045 contracts (includes 74580 longs and 83089 shorts) and the average price per contract comes to around 6082.83.
  • FII’s future open contract as on date is 537794.
  • PCR Open Interest (Volume) is falling fast and at 1.446.
  • Initial support still at very much 6100, with OI of 52.13 lacs, below that at 6000, with huge OI of 62.30 lacs.
  • Resistance got better at 6200, with OI now above 54.93 lacs, above that at 6300 with huge OI of 59.60 lacs.
  • Day Range as per Option Table is 6086 - 6209 and as per VIX is 6079 - 6211 with 6149 as the Pivot.
Option Call for 28-10-2013
Buy Nifty 6100CE above 91 for targets of 107, 130 SL - 85
Buy Nifty 6200PE above 84 for targets of 95, 113 SL - 78

India VIX : 20.42 down by 0.22 points
Call OI : 34717200
Put OI : 50204550
PCR OI : 1.446
SMR : 13.01 (Bearish to Neutral: Weakness prevailed for the second day in row with the Bears adding huge at 6200CE, and now a new all time high in this series fading away fast though support still exists at 6100 level...)